Real Estate Agent · Peachtree Corners, GA · Member since 2016 · 10 posts · 1 vote
I'm curious what the house hacking community in Atlanta thinks of a 3 BR, 1.5 BA 1213 house on a full unfinished basement with a one car carport in Mableton at $260,000. Comps at $285k to $325k. At a minimum it needs paint and flooring (refinish hardwoods and replace tile and vinyl) and basic kitchen/bath reno. A full reno could entail new HVAC, new windows, opening up LR to Kitchen, creating a larger master with full bath and adding living space in the basement. I've got it listed (find it under Find Deals) and have positioned it as a house hacking opportunity. Traffic's been light so far.
Interested in thoughts on the price and positioning.
Honestly, I wouldn't touch it or recommend any of my clients do so for one big reason: It's in Cobb County. They have real strict occupancy laws there (no more than 2 unrelated adults). Now, I know plenty who have gotten away with ignoring that law but when a county is restricting number of cars in a driveway (yep, they do), that's not a place I want to be house hacking.
I'm not sure about the numbers though - not really enough info here to determine if it's a good deal. Are the comps based on current layout or include a finished basement addition? Keep in mind, a full reno plus finishing the basement could be $70k+ so you'll really only land a house hack buyer if the purchase + reno is near ARV. And, with shaky times come shaky 6-month estimated values so many house hackers would likely still avoid, except maybe those who are quite handy and in no rush to refinance.
Unfortunately, this is a tough one on multiple fronts, but location is the deal killer for me.
Hope this helps a bit though and please, feel free to reach out anytime if you have other questions or just want to chat!